APECOIN (APE)
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DESCRIPTION

ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was founded to be used within the burgeoning APE Ecosystem, which is supported by the APE Foundation. The ApeCoin DAO aims to build and maintain the APE Ecosystem in a fair and inclusive way, providing an infrastructure for ApeCoin holders to collaborate through open and permissionless governance processes.
An administrative council within the APE Foundation (the “Board”), will carry out the decisions of ApeCoin DAO members. The Board is responsible for the day-to-day administration, bookkeeping, project management, and other tasks that ensure the Community’s ideas have the support they need to become a reality. ApeCoin DAO members vote on Board members.
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize a decentralized community building at the forefront of web3.  ApeCoin holders govern themselves via the decentralized governance framework controlling the ApeCoin DAO, and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation administers proposals agreed upon by ApeCoin holders.

ApeCoin (APE) Whitepaper: https://apecoin.com/about
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RISKS OF APE

Any investment in cryptocurrency and digital assets, such as APE, can include the following general risks:
(i) Volatility risk and liquidity risk(ii) Regulatory risk(iii) Security risk(iv) Market risk(v) Smart contract risk(vi) Governance risk(vii) Technological riskFor additional information on risks associated with cryptocurrency and digital assets, you may refer to the Satstreet Inc Services Risk Statement. Please note that these risks and the associated summaries or overviews provided for each herein are not intended to be a complete overview of all such risks, and there may be other risks associated with exposure to APE. We encourage all users to perform their own due diligence to assess the risks associated with APE and to determine whether this level of risk is acceptable to them. Neither APE nor Satstreet guarantees the value of APE, and holders of APE will not have any recourse to APE or Satstreet if the value of APE declines for any reason whatsoever.

SATSTREET EVALUATION OF APE

Satstreet Inc. has reviewed and assessed APE prior to making it available through our services and has concluded that APE is not a security or derivative under Canadian securities legislation; however, there is a risk that this conclusion could change in the future and that, in such event, Satstreet will be required to halt, suspend, and then remove APE from its platform as described in the Satstreet Inc. Services Risk Statement.Further, as indicated above, no Canadian securities regulatory authority has expressed an opinion about APE, including an opinion that APE is not itself a security and/or derivative. Based on publicly available information, Satstreet has reviewed APE, including, but not limited to, a review of the following: The creation, governance, usage, and design of APE, including the source code, security, and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that created APE. The supply, demand, maturity, utility, and liquidity of APE. Material technical risks associated with APE, including any code defects, security breaches, and other threats concerning APE and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them. Legal and regulatory risks associated with APE, including (i) any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of APE, and (ii) statements made by any securities regulatory authorities in Canada, other regulators in IOSCO-member jurisdictions, or the regulator with the most significant connection to APE about whether APE, or generally about whether the type of crypto asset, is a security and/or derivative.

Last Updated: Mar 2024